PCNGI is a ‘Lifeline for Nigerians’, Says Pi-CNG CEO Michael Oluwagbemi

The Executive Chairman and CEO of Pi-CNG Limited, Michael Oluwagbemi, has passionately reaffirmed the pivotal role of the Presidential Compressed Natural Gas Initiative (PCNGI) in Nigeria’s ongoing energy transition, describing the program as “a lifeline for millions of Nigerians.”

During his opening remarks at a recent press engagement session, Oluwagbemi spoke for five minutes, emphasizing the strategic importance of the PCNGI, an initiative launched by President Bola Ahmed Tinubu in 2023 as a direct and targeted response to the economic ripple effects of fuel subsidy removal.

“This is not just a policy; it’s a lifeline,” the CEO declared.

“The removal of fuel subsidies created hardship, yes—but it also gave us a chance to rethink our national energy strategy. The PCNGI is that bold rethinking in action.”

He highlighted the tangible achievements of the initiative, noting that thousands of vehicles have already been converted from petrol to compressed natural gas (CNG) and that dedicated conversion centers have been established nationwide.

For transport operators, particularly ride-hailing drivers, taxi owners, and interstate bus unions, the adoption of CNG has resulted in significant reductions in fuel costs. These savings, he noted, have a profound ripple effect on household income and the survival of small businesses.

Oluwagbemi also pointed to the strong buy-in from the private sector, with major companies like Dangote, NIPCO, BUA, Lafarge, and the Nigerian National Petroleum Corporation (NNPC) collectively investing over $400 million in CNG and LNG infrastructure.

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“Dangote’s CNG trucks alone are already driving down the cost of petrol distribution,” he said.

“This is a paradigm shift—and PCNGI is the catalyst.”

While acknowledging operational and logistical challenges, the Pi-CNG boss assured that strategic interventions are being implemented to overcome them and to scale the initiative’s impact.

The broader vision, he explained, is multifaceted: to drive gas consumption, reduce emissions, lower transport costs, create jobs, and accelerate economic growth.

He concluded his address with a direct call to action for the media, urging them to play a crucial role in the initiative’s success.

“We need you to amplify this vision,” he said.

“Let us work together to enlighten Nigerians and rally support for this national transformation.”

The session concluded on a strong note of optimism, reinforcing a renewed commitment to achieving energy security and economic resilience through cleaner, cheaper, and more accessible fuel solutions.